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Running a small or medium-sized business in Australia means constantly adapting. What you need from your EFTPOS solution in your first year looks very different from what you need once you’re expanding to new sites or streamlining multi-terminal operations. That’s why we’ve built this guide: to answer the most common EFTPOS questions businesses ask at each stage of their journey and to show how Tyro helps solve them.
From faster settlements to seamless POS integration, from cash flow support to easy switching, Tyro is built to make payments simple, reliable, and growth-ready. Our goal is to give you clear, practical advice so you can focus on what matters most: running and scaling your business.
No matter your size, payments are the heartbeat of your business. When they run smoothly, customers are happier, queues move faster, and cash flow stays consistent. When they don’t, even small issues can cost you time, sales, and opportunities to grow. Choosing the right EFTPOS partner isn’t just about today – it’s about setting yourself up for the next stage.
We’ve broken down the most common EFTPOS questions businesses ask about into three stages of the business lifecycle. Each section is designed to give you the insights, answers, and next steps relevant to where you are now:
EFTPOS (Electronic Funds Transfer at Point of Sale) is the most common way Australians pay in-store, whether it’s by inserting their card, tapping a phone, or using a watch. For new businesses, offering EFTPOS isn’t just about keeping up with customer expectations – it’s about ensuring you can take payments quickly and reliably, while reducing the risks of handling cash. Tyro’s EFTPOS machines accept all major cards and digital wallets, so you never have to turn a customer away. You also get fast, secure transactions and integrated banking options, which means less time reconciling and more time serving customers.
EFTPOS systems are also often paired with POS systems that handle inventory, pricing, bookings, and the industry-specific tasks a business needs to manage. Many new businesses start without one but soon find that a POS becomes essential for growth. By choosing an EFTPOS provider like Tyro that integrates seamlessly with POS, you’ll save time, reduce errors, and be ready to scale when your business does.
75% of Tyro customers say it helps them serve more customers, more quickly *.
In your first year, cash flow is everything. Waiting two or three business days for EFTPOS settlements can make it harder to pay staff, cover supplier invoices, or reinvest in your business. The Tyro Transaction Account solves this with 7-day settlements ^ – meaning you get your takings the same day, every day, including weekends and public holidays.
This gives you the flexibility to order more stock on the spot, respond to seasonal demand, and keep your team paid on time without dipping into personal funds.
74% of customers agree that getting their daily takings paid into their account same day, 7 days a week is a big help to their business §.
When you’re just starting out, every dollar saved counts. Some providers lock you into long contracts with high monthly fees, setup costs, or cancellation penalties.
With Tyro, you get no setup fees, no lock-in contracts, and customised pricing. Plus, with No-Cost EFTPOS ¤, you pay no machine rental once you reach the monthly threshold δ. You can also choose a plan that suits your volume and adjust as you grow, ensuring your payment solution stays cost-effective.
Almost 90% of customers who switched to Tyro say it made the process easy †
Manually entering amounts into both your POS and EFTPOS machine slows service and increases the risk of errors. Tyro integrates with over 450+ POS systems, so your EFTPOS terminal connects seamlessly with the tools you already use to run your business.
This integration speeds up transactions, reduces keying mistakes, and ensures accurate reporting – freeing you to focus on the customer experience instead of admin.
80% of Tyro customers say working with Tyro means they experience fewer payment processing errors ®.
Delays at launch can mean lost revenue and frustrated customers. Tyro’s application process is quick, and once approved, your terminal arrives ready to use. You’ll also have access to customer support 7 days a week from our Australian-based team who understand your industry.
That means you can get started without downtime and have peace of mind knowing help is there when you need it.
Almost 90% of customers that switched to Tyro say it made the process easy †.
When Rex took over, payments were messy – manual entries, dropouts, and hours wasted on admin. By switching to Tyro, EFTPOS now integrates seamlessly with their POS, making transactions smooth and reporting simple. That means less time on admin and more time growing the club and connecting with members.
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